By Andrea Heisinger
New York, July 28 - Air Products and Chemicals, Inc. priced $350 million of 2% notes on Thursday at a spread of Treasuries plus 62.5 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (A2/A/) were priced at 99.471 to yield 2.112%. They have a make-whole call at 10 bps over Treasuries.
Barclays Capital Inc. and Deutsche Bank Securities Inc. were the bookrunners.
Co-managers were Banca IMI SpA, Mitsubishi UFJ Securities (USA), Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc. and SMBC Nikko Capital Markets Ltd.
Proceeds will be used for general corporate purposes.
The maker of specialty gases, coatings and adhesives is based in Allentown, Pa.
| Issuer: | Air Products and Chemicals, Inc.
|
| Issue: | Notes
|
| Amount: | $350 million
|
| Maturity: | Aug. 2, 2016
|
| Bookrunners: | Barclays Capital Inc., Deutsche Bank Securities Inc.
|
| Co-managers: | Banca IMI SpA, Mitsubishi UFJ Securities (USA), Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc., SMBC Nikko Capital Markets Ltd.
|
| Coupon: | 2%
|
| Price: | 99.471
|
| Yield: | 2.112%
|
| Spread: | Treasuries plus 62.5 bps
|
| Call: | Make-whole at Treasuries plus 10 bps
|
| Trade date: | July 28
|
| Settlement date: | Aug. 2
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
